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<\/a><\/p>\nKevin Gallagher<\/a>, Director of the\u00a0<\/span>Global Development Policy (GDP) Center<\/a>\u00a0and\u00a0<\/span>Professor of Global Development Policy at the Frederick S. Pardee School of Global Studies, was interviewed for a recent article examining\u00a0whether developing countries should accept funding from China.<\/span><\/p>\n Gallagher was quoted in a December 12, 2019 article in\u00a0Financial Times<\/a>\u00a0<\/em>entitled “Should Poor Countries Welcome Beijing\u2019s Money?<\/a>“<\/span><\/p>\n From the text of the article:<\/p>\n Any suggestion of \u2018western lending good, Chinese lending bad\u2019 would be a gross simplification. The west has \u201cmade a lot of mistakes\u201d, according to Kevin Gallagher, professor and director of the Global Development Policy Center at Boston University\u2019s Pardee School for Global Studies. He points to the lending that helped create Africa\u2019s sovereign debt crisis during the 1980s-90s, which led to massive write-offs around the turn of the millennium.<\/p>\n The dichotomy is particularly stark when it comes to financing power generation projects. Between 2005 and 2017 just 1.7 per cent of the World Bank\u2019s energy-related lending was directed to coal projects and 30.8 per cent to wind and solar, according to calculations by Prof Gallagher and colleagues, as the bank responded to fears over climate change.<\/p>\n \u201cCoal is really an area where China hasn\u2019t done its homework,\u201d says Prof Gallagher, who believes many of these new plants will be rendered uneconomic by renewable energy within 20 years as the costs of the latter continue to fall.<\/p>\n More broadly, Prof Gallagher believes much of the criticism of China has been unfair, given that the west made plenty of mistakes in the past \u2014 with, for instance, money intended for development disappearing into the pockets of corrupt politicians. As a result, Chinese lenders that are still learning the ropes are being compared with reformed western agencies that have learnt lessons the hard way.<\/p><\/blockquote>\n Gallagher<\/a>\u00a0serves on the United Nations\u2019 Committee for Development Policy and co-chairs the T-20 Task Force on International Financial Architecture at the G-20. He previously served on the investment sub-committee of the Advisory Committee on International Economic Policy at the US Department of State and on the National Advisory Committee at the Environmental Protection Agency.\u00a0 \u00a0Gallagher has been a visiting or adjunct professor at the Paul Nitze School of Advanced International Studies at Johns Hopkins University, the Fletcher School of Law and Diplomacy at Tufts University; El Colegio de Mexico in Mexico; Tsinghua University in China, and the Center for State and Society in Argentina. Follow him on Twitter\u00a0<\/span>@KevinPGallagher<\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" GDP Center Director Kevin Gallagher discusses whether developing countries should accept funding from China.<\/p>\n","protected":false},"author":11588,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[8410],"tags":[11087,1688,8816,8859,1362],"_links":{"self":[{"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/posts\/40301"}],"collection":[{"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/users\/11588"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/comments?post=40301"}],"version-history":[{"count":1,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/posts\/40301\/revisions"}],"predecessor-version":[{"id":40303,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/posts\/40301\/revisions\/40303"}],"wp:attachment":[{"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/media?parent=40301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/categories?post=40301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/tags?post=40301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}